Are Oils-Energy Stocks Lagging Crescent Energy Company (CRGY) This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Crescent Energy (CRGY) one of those stocks right now? A quick glance at the company’s year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Crescent Energy is one of 254 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Crescent Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CRGY’s full-year earnings has moved 43.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CRGY has moved about 61.6% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 31.4%. This shows that Crescent Energy is outperforming its peers so far this year.
Another stock in the Oils-Energy sector, Alvopetro Energy Ltd. (ALVOF), has outperformed the sector so far this year. The stock’s year-to-date return is 37.1%.
In Alvopetro Energy Ltd.’s case, the consensus EPS estimate for the current year increased 1.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Crescent Energy belongs to the Alternative Energy – Other industry, a group that includes 59 individual stocks and currently sits at #104 in the Zacks Industry Rank. This group has lost an average of 0.9% so far this year, so CRGY is performing better in this area. Alvopetro Energy Ltd. is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Crescent Energy and Alvopetro Energy Ltd.. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Crescent Energy Company (CRGY) : Free Stock Analysis Report
Alvopetro Energy Ltd. (ALVOF) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).